The report cites multiple sources confirming that Hardaway is “actively preparing to be a college coach.” And here’s the kicker. If hired, Hardaway is considering bringing on Larry Brown as a member of his staff, according to the CBS report.

Meanwhile, the Tigers are scheduled to play UCF Thursday in the AAC Tournament in Orlando. The Memphis Commercial-Appeal reached out to Memphis president M. David Rudd, who declined to confirm Smith’s job security.

Interest in the program has waned under Smith on the heels of sustained success under John Calipari and Josh Pastner. After seeing an average of 16,000 fans for home games four years ago under Pastner, the Tigers saw attendance plummet to a 48-year low of just more than 6,000 fans per game this season. The 2017-18 season marks the sixth straight year of declining attendance for the program.

In short, the program has struggled, and interest has followed suit.

But Hardaway would be an instant injection of energy for the program. A Memphis native who played for the Tigers from 1991-93, Hardaway was a part of one of the early ’90s most exciting young NBA teams paired up with Shaquille O’Neal on the Orlando Magic. Knee injuries ultimately cut short his career from reaching its full potential, but he remains a beloved figure in basketball circles and in Memphis in particular.

Penny Hardaway is reportedly being considered to take over as head coach at Memphis. (AP)